Nigeria dropped five places to be ranked 158 in a new report released by KPMG, audit and financial advisory firm.The report, which is titled Growth Promise 2018, ranked countries based on macroeconomic stability, institutional strength, openness and human capital.Nigeria ranked 158 of the 181 countries. Mauritius, Botswana and Rwanda were the highest ranked African countries in the report.Nigeria got a score of [...]
Oluseyi Awojulugbe
ON THE GO
Seriake Dickson, Bayelsa state governor, says the first airplane will land at the state's international airport by June 2018.According to a statement signed by Francis Otta, his spokesman, the governor made this statement while at the state's monthly 'Night of Praise'.He said his government had already set aside funds for the completion of the airport with a 3.5km runway.Dickson said [...]
The latest Global Wealth Migration review says rich people are leaving Lagos for other cities because of taxes.According to the report, some of the reasons high net worth people are leaving their locations are taxes and increasing crime rates.Other cities affected are London and Istanbul.According to the report, 1000 wealthy people left Lagos in 2017 and there were no inflows.Auckland, [...]
MTN Group Limited says it is anticipating a profit in its 2017 financial statement, adding that it has recovered from a $1 billion fine it paid for its Nigerian unit.In a statement, the company which is Nigeria's largest telecommunications network, said the financial statement would cover 12 months for the period ended December 31, 2017.The company announced that it lost [...]
The Nigerian Communications Commission says it held a meeting with the six companies accused of call masking to confront them with some of the evidence at its disposal.TheCable had earlier reported that the commission had given six companies a January 31 deadline to defend their participation in call masking or risk suspension of their licenses.Call masking is a technique used [...]
John Bray, consulate general of the United States Consulate in Lagos, visited the Nigerian Stock Exchange (NSE) on Monday to get familiar with the market.Bray also rang the bell to mark the end of trading.In his address, the consulate general said the progress of Nigeria is good for the progress of US businesses.The NSE was ranked among the top five [...]
Medview Airline says it has suspended its Lagos to Dubai operations, almost two months after its inaugural flight took off on December 7, 2017.The airline said Dubai bound flights will resume operations on March 24, 2018.Muneer Bankole, managing director of the airline, told journalists on Monday that the operations were suspended because there was no ready aircraft to service the [...]
Yemi Kale, statistician general of the federation, says the National Bureau of Statistics (NBS) has no data on the job creation claims made by Chris Ngige, minister of labour and productivity.The data chief made this statement in an interview with Abang Mercy.Ngige had earlier said the Muhammadu Buhari-led administration has created seven million jobs through its programmes.But Kale said during the interview: [...]
Hadi Sirika, minister of state for aviation, says Nigeria will soon get a national carrier to take full advantage of the Single African Air Transport Market (SAATM).The SAATM is a project of African Union (AU) Agenda 2063, which aspires to create a single unified air transport network in Africa.Sirika made this statement on the sidelines of the AU summit in [...]
Femi Falana, senior advocate of Nigeria (SAN), says Africa's educational syllabus is still stuck in the colonial era.Falana made this comment in a paper titled 'The Politics of Education in the Developing World: The African Perspective' which was delivered at the convocation lecture of The West African Union University, Cotonou, Benin Republic on Saturday, January 26.He warned that “Africa is being [...]
Nigeria and 22 other African countries have begun an open air policy that will relax aviation rules and regulations to create a free market environment for eligible commercial airlines.The Single African Air Transport Market (SAATM) was inaugurated on Sunday at the African Union Summit in Addis Ababa, Ethiopia.A free market is one where the government imposes few or no restrictions and regulations [...]
Kemi Adeosun, minister of finance, says Nigeria has got to a point where it does not care if oil prices rise or fall.In an interview with Bloomberg, the minister said the country had learnt to live with oil prices at $45-$46 a barrel.As of 2pm on Friday, Brent crude, the international benchmark of crude oil was trading at $70.20.US West Texas [...]
Olusegun Obasanjo, former president, shocked the world on Tuesday when he warned President Muhammadu Buhari against contesting in 2019. The former president, who was one of Buhari's supporters during the 2015 elections, said the president had performed below expectation.After the federal executive council meeting on Wednesday, Lai Mohammed, minister of information, culture and tourism, responded to the letter with what he [...]
The Nnamdi Azikwe International Airport in Abuja has been reopened after being closed on Thursday afternoon.The runway was closed after a private jet (pictured) operated by Nest Oil skidded off the runway while landing and lost its landing gear in an attempt to return to the runway.As of 6:35pm when this report was filed, TheCable confirmed that only incoming flights were landing [...]
Flight operations at the Nnamdi Azikiwe international airport have been suspended as a result of a mishap involving a private jet operated by Nest Oil.The jet skidded off the runway while landing and lost its landing gear in an attempt to return to the runway.A witness told TheCable that officials of the Federal Airports Authority of Nigeria (FAAN) had to [...]
Patience Oniha, director general of the Debt Management Office (DMO), says the federal government will issue another Eurobond and Sukuk in 2018.Speaking in an interview with Bloomberg, Oniha said the federal government might issue a $2.5 billion Eurobond in the first quarter of 2018 to refinance old debts.This, she said, would complete the planned issuance of $5.5 billion Eurobond proposed [...]
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